The Kenyan electronic market is always very competitive. From smartphones, television, and others, all these brands are always trying to find their place in the market. The market has shown a considerable expansion in recent years. New entrants in the low-end market are making the competition stiffer and brands need to keep a close eye on the competition.
According to a White Paper on the Kenya Electronic Market Trends 2016 from Data Fintech, expansion is challenging brands, forcing them to get near real-time information on the Kenyan consumer expectations to anticipate the market movements.
“The Kenya electronic market is the theater of an international battle with 62 electronic brands fighting tooth and nail to gain market share or simply survive.” Draman Traore, Co-Founder Data Fintech says.
In the camera business, data from Data Fintech show that Nikon and Canon account for 75.2% of the market in stock value in the Kenyan market despite most Kenyans now embracing mobile photography. The two are the leading brands worldwide in the digital camera business
These market insights were provided by Data Fintech, based on data collected from the online marketplace pigiame.co.ke, over a period of 13 months (January 2016 to January 2017.)
Despite the two being top, Nikon stock value has topped for the greater part of the year 2016, maintaining the distance with the main rival, Canon. On the demand side, the data showed that Kenyans have also clearly demonstrated a preference for the Nikon brand. The widespread noticed in brand popularity, in favor of Nikon, can also be explained by a wider product choice.
‘’In fact, when Canon is getting its best market share in the KSh40,000 and above price segment at 30% compare to 21% globally, Nikon shows a stable market share, at 52% in the top segment and in the global market.’’
The presence in lower price segments the insights say has helped Nikon to gain more popularity in the Kenyan market, especially with young entrepreneurs venturing into photography/Blogging and looking for more affordable digital camera solutions.
Which is your favorite brand among the two, leave a comment in the comments section below.